Madani economic thrust aimed at boosting investments - MIDA | Malaysian Investment Development Authority
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Madani economic thrust aimed at boosting investments

Madani economic thrust aimed at boosting investments

15 Jun 2023

The Malaysian Employers Federation said the Madani economic roadmap will focus on investments leading to the creation of a high value, sustainable economy and labour market reform.

Its president Datuk Dr Syed Hussain Syed Husman said the federation believes the unity government led by Prime Minister Datuk Seri Anwar Ibrahim will steer the Madani economic roadmap to success.

However, he said businesses need more favourable financial packages to assist with their expansion plans.

“Businesses also need more support to promote and assist with exporting our goods and services in the region and (beyond).”

Syed Hussain said the country is looking forward to growing new investments in the high technology and digitalisation of business processes, mechanisation and automation of production and services.

“We must attract investors and make Malaysia a hub for these services, at least in the Asian region for a start. Only with these businesses can we offer more career opportunities to our youth, who are technology savvy and well-versed in current systems.

“This will also address unemployment and underemployment issues as well as (prevent) our talent from seeking career opportunities elsewhere. Bringing higher value to our younger generation should be our core target.”

Syed Hussain said the retention of talent is crucial for the growth of any nation.

“In the late 80s and 90s, such opportunities existed and many of us returned to contribute to the nation. We need to revive that spirit.

“A task force should be formed to focus on bringing in high-end engineering services such as the maintenance and overhaul services to Malaysia. We should create a special zone with initiatives to have a hub for them here.”

He said this in turn will support the growth of Technical and Vocational Education and Training (TVET).

He added that TVET must be established as an alternative pathway for graduates who prefer a skills-based career.

“We need to provide jobs for them. Having great TVET institutions is not good enough. We must ensure that TVET graduates obtain good technical jobs and grow in their careers.

“If these are not given the right focus, then it’s another paper chase where soon, graduates having TVET qualification would not be able to get the right jobs.”

On Monday, Anwar said the Madani economic roadmap, to be announced in August, will leverage the green economy as a source of business growth and high quality jobs.

Source: The Sun Daily